The Kohmann Bosshard Financial Services LLC Purchases Shares of 8,000 Progressive Corporation (The) (PGR)

The Kohmann Bosshard Financial Services LLC Purchases Shares of 8,000 Progressive Corporation (The) (PGR)

Kohmann Bosshard Financial Services LLC purchased a new stake in Progressive Corporation (The) (NYSE:PGR) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 8,000 shares of the insurance provider’s stock, valued at approximately $387,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PGR. Janus Henderson Group PLC lifted its holdings in Progressive Corporation (The) by 8,999.0% during the second quarter. Janus Henderson Group PLC now owns 6,472,777 shares of the insurance provider’s stock worth $285,384,000 after buying an additional 6,401,640 shares during the period. William Blair Investment Management LLC increased its position in shares of Progressive Corporation (The) by 24,360.1% in the 2nd quarter. William Blair Investment Management LLC now owns 4,799,062 shares of the insurance provider’s stock valued at $211,591,000 after acquiring an additional 4,779,442 shares during the period. Artisan Partners Limited Partnership increased its position in shares of Progressive Corporation (The) by 40.4% in the 2nd quarter. Artisan Partners Limited Partnership now owns 11,586,365 shares of the insurance provider’s stock valued at $510,843,000 after acquiring an additional 3,332,180 shares during the period. Voya Investment Management LLC increased its position in shares of Progressive Corporation (The) by 515.0% in the 2nd quarter. Voya Investment Management LLC now owns 2,665,312 shares of the insurance provider’s stock valued at $117,514,000 after acquiring an additional 2,231,956 shares during the period. Finally, Bank of Montreal Can increased its position in shares of Progressive Corporation (The) by 294.3% in the 2nd quarter. Bank of Montreal Can now owns 2,790,503 shares of the insurance provider’s stock valued at $123,034,000 after acquiring an additional 2,082,834 shares during the period. Hedge funds and other institutional investors own 79.51% of the company’s stock.

Shares of Progressive Corporation (NYSE:PGR) traded up 0.689% on Thursday, reaching $48.945. 958,617 shares of the company’s stock traded hands. Progressive Corporation has a 52 week low of $30.99 and a 52 week high of $49.75. The company has a 50 day moving average price of $47.88 and a 200 day moving average price of $44.95. The firm has a market capitalization of $28.44 billion, a price-to-earnings ratio of 20.828 and a beta of 0.87.

Progressive Corporation (The) (NYSE:PGR) last released its earnings results on Tuesday, October 17th. The insurance provider reported $0.41 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.07. The firm had revenue of $7.14 billion for the quarter, compared to analysts’ expectations of $7.04 billion. Progressive Corporation (The) had a net margin of 5.41% and a return on equity of 15.40%. Progressive Corporation (The)’s quarterly revenue was up 18.1% on a year-over-year basis. During the same quarter last year, the company earned $0.34 EPS. On average, equities research analysts predict that Progressive Corporation will post $2.34 earnings per share for the current fiscal year.

In other news, insider M Jeffrey Charney sold 6,000 shares of Progressive Corporation (The) stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $48.90, for a total value of $293,400.00. Following the transaction, the insider now owns 108,038 shares of the company’s stock, valued at approximately $5,283,058.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jeffrey W. Basch sold 9,000 shares of Progressive Corporation (The) stock in a transaction that occurred on Wednesday, October 18th. The stock was sold at an average price of $48.23, for a total transaction of $434,070.00. Following the completion of the transaction, the insider now directly owns 70,965 shares in the company, valued at approximately $3,422,641.95. The disclosure for this sale can be found here. In the last three months, insiders have sold 101,250 shares of company stock worth $4,923,983. 0.56% of the stock is owned by corporate insiders.

PGR has been the topic of several research reports. Barclays PLC upped their target price on Progressive Corporation (The) from $35.00 to $39.00 and gave the company an “underweight” rating in a research report on Monday, July 3rd. Morgan Stanley reaffirmed an “equal weight” rating and set a $43.00 price target (up from $40.00) on shares of Progressive Corporation (The) in a research report on Friday, July 7th. FBR & Co increased their target price on shares of Progressive Corporation (The) from $36.00 to $40.00 and gave the stock a “mkt perform” rating in a research note on Tuesday, July 11th. UBS Group AG raised shares of Progressive Corporation (The) from an “outperform” rating to a “strong-buy” rating in a research note on Thursday, July 13th. Finally, Raymond James Financial, Inc. raised shares of Progressive Corporation (The) from an “outperform” rating to a “strong-buy” rating and increased their target price for the stock from $45.00 to $52.00 in a research note on Thursday, July 13th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $46.44.

About Progressive Corporation (The)

The Progressive Corporation is an insurance holding company. The Company’s insurance subsidiaries and affiliates provide personal and commercial automobile and property insurance, other specialty property-casualty insurance and related services. The Company operates through the Personal Lines, Commercial Lines and Property segments.

Related posts

Leave a Comment